Green targets in Britain cover only a third of carbon emissions by companies, a report says.
Analysts said “carbon laggards” could miss out on financial gains from the push towards net zero.
Those UK companies that do take action are decarbonising faster than in Europe or North America.
The report by disclosure group the Carbon Disclosure Project and consultant Bain & Company said companies without climate plans risk falling foul of tightening regulations.
Pressure is increasing on companies to clean up their operations in what is often described as a critical decade in fighting climate change.
Dexter Galvin, CDP’s chief commercial officer, said it was concerning that the majority of UK companies had yet to set targets.
Only 36 per cent of corporate emissions are covered by decarbonisation targets, according to the report.
The figure falls to 31 per cent if emissions further down the supply chain are included.
“Companies can truly embrace decarbonisation and add value to their business – these are not mutually exclusive,” Mr Galvin said.
“The fact is there are nowhere near enough companies taking the necessary steps to do this, even though it is good for business, people and planet.”
The report said companies who “take decarbonisation seriously” had financial opportunities amounting to a 30 per cent advantage over “carbon laggards”.
Britain’s hospitality sector was identified as a cause for optimism, with 12 per cent emissions cuts since companies began reporting to CDP, compared to single figures in Europe and North America. The UK’s fashion sector also outperformed rivals.
“Effective decarbonisation strategies are a win-win – good for the planet and good for the organisations which enact them,” said Katherine Kajzer-Hughes from Bain & Company, who works with UK companies on sustainability.
Slow corporate progress could result in the UK falling further behind its national net zero goals. Ministers have set a target of reducing emissions by 68 per cent by 2030, compared to 1990 levels.
They had fallen 46 per cent by the end of last year, according to a report to parliament. Prime Minister Rishi Sunak recently announced an expansion of North Sea oil and gas drilling.
A worldwide report in June said the number of major companies setting net-zero targets had almost doubled since late 2020, but many lacked the transparency to make them meaningful.
The UN has said global emissions must be almost halved by 2030 to limit the global temperature rise to 1.5°C above pre-industrial levels, the goal of the Paris Agreement.
Sri Lanka-India Test series schedule
- 1st Test India won by 304 runs at Galle
- 2nd Test India won by innings and 53 runs at Colombo
- 3rd Test August 12-16 at Pallekele
Company%20profile
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UAE currency: the story behind the money in your pockets
UFC%20FIGHT%20NIGHT%3A%20SAUDI%20ARABIA%20RESULTS
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Killing of Qassem Suleimani
The%20specs%20
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Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
RESULTS
5pm: Maiden (PA) Dh80,000 2,200m
Winner: Arjan, Fabrice Veron (jockey), Eric Lemartinel (trainer).
5.30pm: Maiden (PA) Dh80,000 1,400m
Winner: Jap Nazaa, Royston Ffrench, Irfan Ellahi.
6pm: Al Ruwais Group 3 (PA) Dh300,000 1,200m
Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinal.
6.30pm: Shadwell Gold Cup Prestige Dh125,000 1,600m
Winner: AF Sanad, Bernardo Pinheiro, Khalifa Al Neyadi.
7pm: Shadwell Farm Stallions Handicap (PA) Dh70,000 1,600m
Winner: Jawal Al Reef, Patrick Cosgrave, Abdallah Al Hammadi.
7.30pm: Maiden (TB) Dh80,000 1,600m
Winner: Dubai Canal, Harry Bentley, Satish Seemar.
%20Ramez%20Gab%20Min%20El%20Akher
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Rankings
ATP: 1. Novak Djokovic (SRB) 10,955 pts; 2. Rafael Nadal (ESP) 8,320; 3. Alexander Zverev (GER) 6,475 ( 1); 5. Juan Martin Del Potro (ARG) 5,060 ( 1); 6. Kevin Anderson (RSA) 4,845 ( 1); 6. Roger Federer (SUI) 4,600 (-3); 7. Kei Nishikori (JPN) 4,110 ( 2); 8. Dominic Thiem (AUT) 3,960; 9. John Isner (USA) 3,155 ( 1); 10. Marin Cilic (CRO) 3,140 (-3)
WTA: 1. Naomi Osaka (JPN) 7,030 pts ( 3); 2. Petra Kvitova (CZE) 6,290 ( 4); 3. Simona Halep (ROM) 5,582 (-2); 4. Sloane Stephens (USA) 5,307 ( 1); 5. Karolina Pliskova (CZE) 5,100 ( 3); 6. Angelique Kerber (GER) 4,965 (-4); 7. Elina Svitolina (UKR) 4,940; 8. Kiki Bertens (NED) 4,430 ( 1); 9. Caroline Wozniacki (DEN) 3,566 (-6); 10. Aryna Sabalenka (BLR) 3,485 ( 1)
Hunger and Fury: The Crisis of Democracy in the Balkans
Jasmin Mujanović, Hurst Publishers
